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Net profit drops for Palm Hills, HHD, and Arabian Cement in 2Q2020
EARNINGS WATCH- Palm Hills Developments (PHD) saw its net profit after tax fall 37% to EGP 195 mn in 2Q2020…
Basic materials
Egypt targets 15.6 tonnes of gold production in FY2020-2021
Egypt is targeting the production of 15.6 tonnes of gold in the current fiscal year, the local press reports, citing…
Egypt’s potato exports dip 25% y-o-y
Egypt’s potato exports declined 25% this year, coming up almost 200k tonnes short of our 850k-tonne target for the year…
Egypt’s GASC wants unspecified amount of wheat for October delivery
State grain buyer GASC has launched a tender for an unspecified amount of wheat it plans to have delivered between…
Local banks joining UAE’s Mashreq in arranging USD 360 mn loan to Evergrow
At least five banks — the National Bank of Egypt, Banque Misr, Suez Canal Bank, the Housing and Development Bank,…
Egypt’s Supply Ministry raises compensation for subsidized bread bakers
The Supply Ministry is paying bakeries a higher fee for producing subsidized bread, according to a decision seen by Al…
Diplomacy + Foreign Trade on 17 August 2020
Egypt, Sudan push for binding GERD agreement as fresh talks get underway: Egypt, Ethiopia, and Sudan resumed yesterday African Union-sponsored…
New cotton trading system for 2020-2021 to rely on public auctions for pricing
The government will implement a new cotton trading system in four governorates — Fayoum, Beni Sueif, Beheira, and Sharqia —…
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